[xmr]

Plainly not true; certainly for banks in the UK overseas and crown dependencies.

[zekevermillion]

This may actually be true due to correspondent banking -- e.g., the Bank of Drug Dealers and Terrorists based on an oil rig in the Pacific may in fact be a correspondent with CitiBank (just a fictional scenario of course, I'm sure Citi would never agree to any relationship with such a sketchily named bank)

[hackerboos]

The largest bank in the Seychelles (a known tax evasion jurisdiction) is Barclay's, based in London.

[_Codemonkeyism]

Plainly true, those 'banks' or trusts don't have their own data centers and infrastructure where the money just 'rests' as records in databases they put it into their accounts in other banks, London banks in this case to make more money.